You've read it in the news and I've seen it on TV about what's happening now.  If you run up too much debt you're in trouble.   It used to be you could find a good lawyer and get some papers filed and clear your debt.  Credit cards, everything.  Except for the IRS. Now the bankruptcy laws are different.  You can't get out from under so easily.  My friend Mike is in big trouble now.  He lost his job last year, and he had unemployment going, but that's set to run out.  But that's not the biggest problem.  The thing is, he had some medical issues and being out of work and only covered by COBRA, he racked up a lot of sudden bills.  He even hit me up for some cash.  I gave it to him.  I don't know if I'll see it again. But who knows?  I may be in his position some day and need some emergency cash, and hopefully I'll have a friend around.  So now you really do have to work out some type of plan with all the creditors.  You just can't skate.  Tonight Mike is supposed to meet me after work.  He did say that he has some type of job lined up, but I know I'll end up buying him a beer or two.  That's okay.